Xi stresses need to make State-owned sector more competitive, influential

An important meeting chaired by Xi Jinping, general secretary of the Communist Party of China Central Committee, on Friday stressed the need to bolster the Party's leadership over State-owned enterprises and make the State-owned sector more competitive and influential.

The meeting of the Political Bureau of the CPC Central Committee also called for efforts to incorporate Party leadership into each part of corporate governance of SOEs and to unify Party leadership while improving corporate governance.

The meeting reviewed a pilot CPC regulation on the primary-level organization work of SOEs, according to a statement released after the meeting.

Boosting Party leadership over SOEs is of major significance in making the State-owned sector more competitive, innovative, dominant, influential and capable to guard against risks. It will also help State capital become stronger, do better and grow bigger, it said.

Efforts were urged to ensure the leadership of Party organizations in SOEs and to give full play to the role of Party committees within SOEs in chartering direction, managing the overall situation and ensuring policy implementation.

It is important to embed Party organizations into the governance structure of SOEs and make clear their legal position within the corporate legal person management system, the statement said.

The development of officials within SOEs must be stepped up, with the priority being to develop a group of SOE leaders who are loyal to the Party, capable in corporate governance, honest and upright.

The meeting also reviewed a CPC regulation on primary-level organization work within Party and State bodies. It underlined the key position of Party and government bodies in their responsibilities and leading Party building in other sectors.

The political work of the Party must be moved forward unwaveringly, and steps must be adopted to improve the level of approval from the CPC Central Committee and the people for Party and government departments.

The meeting also highlighted the significance of stepping up routine supervision from primary-level Party organizations and guiding Party officials to assume their duties, execute their power and conduct their work in keeping with the system.